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Electronic Card Transactions Data

Electronic Card Transactions (ECT) Data is data found in New Zealand to demonstrate statistics for their consumer spending through debit and credit card use.[1] It is similar to the Retail Trade Survey (RTS) found in New Zealand which usually measures this area of economic activity.[1]Since debit and credit cards are commonly used to pay for goods and services in New Zealand, they represent a strong percentage of the consumption expenditure in the country. Every time an electronic transaction is made in New Zealand, an ECT data is generated as an indicator of retail sales and sent to Statistics NZ on a monthly basis. This data is compared to the monthly RTS New Zealand uses for this data originally to see if it is a reliable indicator of changes in retail sales. ECT also has similarities to the Australian and New Zealand Standard Industrial Classification (ANZSIC) which is in charge of publishing most of New Zealand's over-all economic data.

Overview

The collection of data is divided up between three different series of industries to differentiate the retail market.

They are:

  • Electronic Card Transactions - Total (all industry classes)
  • Electronic Card Transactions - Retail industry (ECTs covered by the ANZSIC industries, retail trade, accommodation, cafes, restaurants and personal service)
  • Electronic Card Transactions - Core retail industry (a subset of retail ECTs excluding motor vehicle-related industries)
    • **The motor vehicle-related industries is excluded as most large vehicle purchases have low to no electronic card activity**[1]

Characteristics and Coverage

Inclusions

  • All New Zealand merchants debt, credit and charge transactions
  • Point of sale transactions with car present (authorized by either pin or signature)
  • No card present transactions including mail orders, invoice payments and telephone purchases
  • GST tax (goods and services)[1]

Exclusions

  • All credit card transactions outside New Zealand (internet, mail-order, telephone)
  • New Zealand card holder transactions completed overseas
  • Cash or cheque purchases
  • Automatic payments form bank accounts
  • ATM withdrawals
  • Internet bank account payments[1]

Classification

Usage

Industries that have lower use of electronic cards, such as motor vehicle purchases, have less representation of retail sales data.

Share of Spending

References

  1. ^ a b c d e Minish, Henry (June 2007). "The Development of Electronic Card Transaction Statistics". Statistics New Zealand. Retrieved 20 October 2016.
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